Open Markets Institute

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Today in Monopoly - Monday, November 5, 2018

Here are some stories we had our eye on today:

Amazon in Late-Stage Talks With Cities Including Crystal City, Va., Dallas, New York City for HQ2

The Wall Street Journal, Laura Stevens, Scott Calvert, and Tawnell D. Hobbs

Amazon.com Inc. has progressed to late-stage talks on its planned second headquarters with a small handful of communities including northern Virginia’s Crystal City, Dallas and New York City, people familiar with the matter said, as it nears a final decision that could reshape both the tech giant and the location it chooses.

Sen. Wyden Proposed a CEO-Felling Data Privacy Law. Is Big Tech Ready for It?

Fortune, Robert Hackett

On Thursday, Senator Ron Wyden (D-Ore.), a prominent privacy hawk, unveiled a draft bill that seeks to slap harsher penalties on companies—and chief executive officers—who run afoul of new rules that expand government oversight of the tech industry. The Consumer Data Privacy Act, as the bill is tentatively named, takes its cue from Europe’s General Data Privacy Regulation, or GDPR, which can fine companies up to 4% of their global, annual revenues for infractions. But Wyden’s bill goes even further; in addition to that penalty, the proposed law would jail chief execs up to 20 years with individual fines reaching as high as $5 million for CEOs who knowingly mislead regulators.

Facebook suddenly banned this start-up from advertising, and its founder thinks Facebook is trying to squash a competitor

CNBC, Salvador Rodriguez

Facebook banned ads from Bloom, an online identity management service with a focus on credit scoring, saying that it was offering deceptive financial services products. Bloom does not sell any financial products, although people can use its service to apply for loans. Bloom's founder thinks Facebook is actually upset because Bloom competes with Facebook's own identity service, Facebook Login.

Newly Public Tech Firms Race Back to Market as IPO Frenzy Continues

The Wall Street Journal, Corrie Driebusch and Maureen Farrell

Tech entrepreneurs who for years were reluctant to wade into the public stock market have been jumping in lately with both feet. As their shares outperform, newly public tech companies have been returning to the market to sell more stock at a nearly unprecedented clip. About 44% of the so-called follow-on stock offerings from U.S.-listed technology companies in the first 10 months of the year have come within 180 days of an initial public offering. That would be the second-highest yearly percentage since Dealogic began collecting data in 1995.

Revive Antitrust Suit Against AB InBev, Molson, Brewer Says

Law360, Lauraann Wood